Yesterday, El Reg reported that Telefónica UK - the UK division of the giant spanish telco - has been sold to Manchester-based NetServices.

Confirming the deal the company said: "This acquisition adds significantly to the client base of NetServices in areas of broadband and IP VPN network services for the SME, corporate and ISP markets."

Telefónica UK is expected to add around £20m to NetServices' annual turnover over the next fifteen months.

Said boss Mark Vickers: "The acquisition of Telefónica UK supports the ongoing NetServices growth strategy. Over the next few months we expect to acquire additional companies that will increase our user base both at home and abroad as well as enable the delivery of new technologies." ®